Gilbert Inc. has bonds outstanding that were issued 10 years ago with an original maturity of 20 years. These pay interest semiannually, and have a fixed coupon of 7.50%. Today, each $1000 face value bond is selling for $1030. Gilberts marginal tax rate is 25%. Assuming Gilbert would like to issue new bonds today that have the same remaining maturity as their existing bonds, we can estimate Gilberts pre-tax marginal cost of debt to be: 7.66% 7.97% 6.49% 6.73% 7.08%